Why Young Adults Should Consider Life Insurance Early

Think you’re too young to need life insurance?

​Discover why locking in a policy early can save money, protect your loved ones, and provide long-term financial benefits.

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When you're in your 20s or early 30s, life insurance probably isn’t at the top of your to-do list. You're likely focused on building your career, traveling, or paying off student loans—not on what happens if you're no longer around. But the truth is, purchasing life insurance at a younger age can be one of the smartest financial decisions you’ll ever make.

Not only is it more affordable, but it also gives you long-term protection, helps you avoid insurability issues down the road, and ensures the people you care about won’t be left with financial burdens.

💸 It’s Cheaper When You’re Young and Healthy
Life insurance premiums are largely based on your age and health at the time of application. The younger and healthier you are, the lower your perceived risk to insurers—and that means lower monthly costs.
For example, someone in their mid-20s with no major health conditions may pay half (or even less) than someone applying for the same policy in their 40s. And the best part? You can lock in that low rate for the life of the policy—often 10, 20, or 30 years.

🧾 You Don’t Need to Be Married or Have Kids
Many people assume life insurance is only for parents or married couples, but that’s a myth. Even if you don’t have dependents, there are still valid reasons to consider getting covered:

• Co-signed debt: If someone (like a parent) co-signed a private student loan or other debt with you, they could still be financially responsible for that balance if you pass away.
• Burial and final expenses: Life insurance can help cover funeral costs, which can range from $7,000 to $12,000 or more.
• Asset protection: If you own a home or vehicle with someone else, life insurance can ensure that the other person doesn’t inherit a financial burden.

🧠 How Much Coverage Should You Get?
There are several methods to calculate how much life insurance you need, but a simple starting point is the 10x rule—aim for coverage worth at least 10 times your annual income.
However, your specific needs depend on:

• The amount of debt you carry
• Any dependents or people who rely on your income
• Whether you want to cover burial costs, housing, or future education needs
• Your existing savings and employer-provided benefits

Even a $250,000 term policy can provide meaningful protection at a very affordable monthly cost when purchased young.

⏳ Term Life vs Whole Life
There are two main types of life insurance: term and permanent (whole or universal life).
📌 Term Life Insurance:

• Covers you for a set number of years (e.g., 10, 20, or 30 years)
• Affordable with high coverage for low monthly premiums
• Ideal for protecting dependents or debt during your working years

📌 Whole Life or Universal Life:

• Offers lifetime coverage
• Builds cash value over time that you can borrow against
• Costs more, but may be useful for long-term financial strategies

For most young adults, term life insurance is the most cost-effective and practical choice. However, if you’re already investing or planning for long-term wealth transfer, you may also want to explore permanent coverage.

🚫 Employer Life Insurance Isn’t Always Enough
Many jobs include life insurance as part of their benefits package, but these policies are often limited to 1–2x your salary and are not portable if you leave your employer. That amount may not be enough to cover final expenses, debts, or provide financial support for loved ones.
Having your own personal policy ensures that your protection stays in place—no matter where your career takes you.

📈 It’s About Long-Term Planning
Buying life insurance early isn’t just about preparing for the worst—it's about building a financial safety net. It’s a step that shows you’re thinking ahead, protecting your future, and being proactive about the people and responsibilities that matter to you.
Whether you're planning for future family needs, protecting a partner, or simply being financially responsible, locking in a low rate now can give you peace of mind for years to come.

📝 Final Thoughts
It’s never too early to think about life insurance. The younger and healthier you are, the more options you have—and the more affordable your premiums will be. Even if you’re not yet married or don’t have kids, life insurance can be a smart and practical tool to reduce financial risk, safeguard your assets, and build a foundation for long-term planning.

📌 At Corin Insurance, we work with a variety of trusted life insurance carriers to help you find the right policy for your age, budget, and long-term goals. Whether you’re ready to buy or just want to understand your options, our team is here to simplify the process and guide you every step of the way. Request a life insurance quote today.

Disclaimer: This content is for informational purposes only and does not constitute legal or financial advice. Coverage, rates, and product availability may vary by carrier and state. Always consult with a licensed insurance agent or financial advisor to determine the best policy for your needs.